Monster Beverage profit falls

Wed May 8, 2013 4:26pm EDT
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May 8 (Reuters) - Energy drink maker Monster Beverage Corp reported a 17 percent fall in quarterly profit as it was hurt by costs related to distributor terminations and foreign currency transactions.

The company, formerly known as Hansen Natural, earned $63.5 million, or 37 cents per share, in the first-quarter, down from $76.1 million, or 41 cents per share, a year earlier.

Sales rose 7 percent to $484.2 million.

Shares of the company were trading down 6 percent at $54.00 after the bell. (Reporting by Aditi Shrivastava in Bangalore; Editing by Roshni Menon)